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The automotive tier-1 technology company, Faurecia has entered into a 50-50 joint venture with one of China’s largest automotive manufacturers, BAIC.
According to media reports, this partnership will be created through Faurecia’s purchase of the 50% shareholding of Beijing BAI DAS Automotive System Company from DAS Corporation. The transaction will be completed once regulatory approvals are obtained in China. The new joint venture between BAIC and Faurecia will provide complete seat assembly, seat frames, foams and headrests initially for BAIC Hyundai and BAIC owned brands. Headquartered in Beijing, the joint venture will have 500 employees across four plants in Beijing, Chongqing, Huanghua and Xiangtan.